Raisioagro’s EBIT was EUR -0.3 million (EUR -0.1 million excluding one-off items) due to the loss in the already finished production period of the oil milling business.

Group net sales totalled EUR 131.2 million (EUR 137.5 million).

Raisio Group’s key figures excluding one-off items

Q4/ 2013

Q4/ 2012

Q3/ 2013

Q2/ 2013

Q1/2013

2013

2012

Results from continuing operations

Net sales

M€

131.2

137.5

149.5

148.6

128.3

557.6

584.1

Change in net sales

%

-4.6

-0.9

-7.1

-1.3

-4.9

-4.5

5.7

EBIT

M€

8.4

6.6

12.0

11.0

8.0

39.3

34.6

EBIT

%

6.4

4.8

8.0

7.4

6.2

7.1

5.9

Depreciation and impairment

M€

3.7

4.1

3.7

3.7

3.9

14.9

16.6

EBITDA

M€

12.1

10.8

15.6

14.7

11.9

54.3

51.2

Net financial expenses

M€

-0.4

-0.4

-0.2

-0.8

-0.4

-1.8

-2.5

Earnings per share (EPS)

€

0.05

0.04

0.06

0.05

0.04

0.20

0.18

Balance sheet

Equity ratio

%

-

-

-

-

-

68.2

64.1

Gearing

%

-

-

-

-

-

-8.6

4.9

Net interest-bearing debt

M€

-

-

-

-

-28.5

16.2

Equity per share

€

-

-

-

-

-

2.13

2.10

Dividend per share

€

-

-

-

-

-

0.13*

0.12

Gross investments**

M€

7.8

17.0

4.0

3.0

1.7

16.5

24.6

Share

Market capitalisation***

M€

-

-

-

-

-

683.1

479.3

Enterprise value (EV)

M€

-

-

-

-

-

654.6

495.5

EV/EBITDA

-

-

-

-

-

12.1

9.7

* Board of Directors’ proposal to the Annual General Meeting ** Including acquisitions*** Excluding the company shares held by the Group

Figures for the comparison period are given in brackets. The financial statements review has not been audited.

CHIEF EXECUTIVE’S REVIEW OF 2013

“Raisio Group achieved record EBIT of almost 40 million euros in 2013. EBIT improved by about 14 per cent on the comparison year. Clear improvement in EBIT is a good achievement from the company and organisation in the challenging economic situation of Europe.

The Group's balance sheet has been kept strong with a positive cash flow of EUR 71.8 million. Raisio is a net debt free company despite our acquisitions of EUR 200 million made on a debt free basis during the growth phase. This gives us a good opportunity to continue the implementation of the growth phase in line with our strategy.

Last spring Raisio and Intellectual Ventures (IV) established a joint venture Benemilk Ltd whose operations have proceeded well as expected. Several patent applications related to the Benemilk® innovation have already been filed and further applications are under development. We have begun preliminary negotiations with potential Benemilk licensing partners.

When solving global challenges of the food and agriculture sector, Benemilk Ltd is shaping up to be a holding company widely combining IPR and technologies. The latest example of this is the patent application filed in the USA in late 2013 for an invention related to a new salmon feed, which Raisioagro is already using in its feeds for rainbow trout.”

Outlook 2014

In 2014, Raisio continues to improve its EBIT. The improvement is estimated to focus on the second half of 2014 when the ongoing streamlining projects are completed.

Event in Finnish for analysts and media will be arranged in Helsinki on 13 February 2014 starting at 2.00 p.m. Finnish time. It will be held at Hotel Scandic Simonkenttä. The address is Simonkatu 9, Helsinki.

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